Owning an apartment complex is rewarding, but it does not come without risks. You provide housing for hundreds of tenants, so damage and other liabilities are bound to occur. When they do, you rely on your insurance company to help cover the cost.
You pay your premiums on time, so you expect your provider to be on your side. This is not always the case, though. An insurance adjuster will put you through the wringer before they settle your claim. And when they do, the settlement may be deliberately low or unjustly denied. Contact an insurance lawyer if you have found yourself in this situation.
Texas Insurance Attorney
Filing an insurance claim with an attorney significantly increases your chances of a higher settlement. The lawyers at LeMaster & Ahmed PLLC have more than thirty combined years of experience in insurance law. Ms. Ahmed and Ms. LeMaster are tenacious insurance lawyers who will stop at nothing to ensure you receive what you are entitled to under Texas law.
Call (832) 356-7983 to schedule a free consultation. We are based in The Woodlands and Plano, but also represent policyholders in areas such as Houston, Galveston and Dallas.
- Damage Covered by Apartment Insurance
- General Liability Claims
- Why Was My Insurance Claim Denied?
- Additional Resources
Damage Covered by Apartment Insurance
Apartment owners use commercial property insurance to protect buildings and other structures in the community such as tenant buildings, leasing offices, fences and garages. There are three different types of commercial property coverage offered in Texas: basic, broad and special form policy.
Listed below is a brief explanation of what each policy protects:
- Basic form policy covers basic risks and perils such as:
- Wind and hail (unless you are along the gulf coast)
- Sprinkler leaks
- Riot and civil commotion
- Vehicle and aircraft collisions
- Broad form policy covers more risk and perils than a basic policy. In addition to damage covered by a basic form policy, broad coverage also covers damage from leaking appliances, falling objects, structural collapses and damage from ice, sleet and snow.
- Special form policy covers all damage from all causes of loss, except for policy exclusions.
Commercial insurance will not provide coverage for every risk that may strike your apartment community. Even with special form policy, you are still not protected from policy exclusions like flooding. You will have to purchase added protection to ensure your investment is protected from such perils.
General Liability Claims
Commercial property insurance will not protect landlords from third-party lawsuits, but general liability insurance will. General liability insurance has three coverage areas: bodily injury and property damage, personal and advertising injury and medical payment coverage.
Bodily injury and property damage coverage pays for legal liabilities stemming from negligent acts or liability from business operations. This could include a lawsuit arising from a tenant being mugged because of lack of security or a visitor tripping on a crack in the sidewalk.
General liability insurance also typically protects from third-party lawsuits stemming from wrongful eviction, invasion of privacy, wrongful entry and discrimination. This type of coverage may also used to pay for medical costs that did not require litigation. This may include hospital bills, surgery expenses and ambulance rides.
Why Was My Insurance Claim Denied?
A denied insurance claim only adds to a frustrating situation. There are many reasons your apartment claim was denied. Maybe it was because you did not have sufficient coverage, or because your adjuster unjustly rejected the claim.
Unjustly denying a claim is a violation of your policyholder rights and may call for litigation. Rather than accept that your claim was denied, consult with an insurance lawyer. If your case prevails, you could be awarded up to three times the value of your claim, attorney fees and other damages the court deems appropriate.
You can still consult with an insurance attorney even if you do not plan to pursue legal action. An attorney can advise you through the claims process, help you negotiate with adjusters, and represent you in court if needed.
Unfair Settlement Practices | Texas Insurance Code – Unjustly denying an insurance claim is considered bad faith. By following the link, you can learn more about bad faith insurance acts in section 541.060. You can also learn about hearing procedures and find information about misrepresenting insurance policies. The information can be read on the Texas Constitution and Statutes website.
Commercial Property Insurance | Texas Department of Insurance – Visit the Texas Department of Insurance website to learn more about commercial property coverage. You can find more information about the basic coverage options, learn about the difference between replacement cost and actual cash value coverage and learn more about additional protection options. The Texas Department of Insurance is the entity responsible for regulating insurance in Texas.
Texas Insurance Lawyer
Ensure your investment is protected and file an insurance claim with the help of LeMaster & Ahmed PLLC. Our insurance attorneys are seasoned policyholder advocates who will ensure your insurance company holds up their end of the deal. Call (832) 356-7983 to schedule a time to speak with us.
Ms. Ahmed and Ms. LeMaster assist clients in Montgomery County, Collin County, Harris County, Dallas County and Galveston County.